The STLF provides access to a broader group of eligible counterparties against a larger security group at a higher price than routine repurchase operations and the standing liquidity facility (SLF). This facility provides the Bank with a larger menu of complementary instruments that support graduated and well-designed interventions, in accordance with the Bank`s pre-defined principles for cash intervention. As with other bank liquidity instruments, the Bank of Canada is the sole discretion of the Bank of Canada to provide liquidity under the STLF. The bank also implements a maturity program representing part of the assets on the bank`s balance sheet. These dates are short-term transactions with primary traders against high-quality securities. Every Friday, in the bank`s weekly balance sheet, CTRF`s operations are reported at the aggregate level under ”Securities acquired under resale contracts.” All coupons and principal payments (for NHA MBS) that the Bank of Canada receives on securities during the transaction term are held by the Bank of Canada. The final billing amount will be adjusted if necessary to reflect these revenues in accordance with the Bank of Canada`s purchase and resale contract. This program supports the liquidity of the Canadian government`s securities market and is designed to support effective price clearing and valuation. A liquid and efficient market for Government of Canada securities is important to the efficient functioning of Canada`s financial markets. It supports the government and other borrowers in their financing activities and supports the Bank`s objectives in the transfer of monetary policy. As part of the implementation of its monetary policy and responsibilities in the financial system, the Bank conducts a series of financial market transactions as part of its regular monetary policy framework and provides liquidity to the Canadian financial system if necessary. The Bank also plays the role of lender of last resort, which has played a fundamental role for central banks since at least the 19th century. The bank provides routine liquidity to strengthen the objective of the day-to-day rate and facilitate settlement in the payment system and has various instruments to respond to situations where exceptional or emergency liquidity may be required, either on a bilateral basis for some companies, through the granting of emergency loans (ELA), or on the whole market through the use of exceptional cash facilities.

The Term Rean Mechanism (CTRF) is the Bank of Canada`s permanent reseal mechanism to address serious liquidity constraints in the market and support the stability of Canada`s financial system. The FRTC provides eligible counterparties with one month of canadian dollar financing for one month, on a permanent bilateral basis, in relation to securities issued or guaranteed by the Government of Canada or a provincial government. When transactions in the general collateral market generally take place overnight at interest rates above the bank`s target value, the bank can inject liquidity through overnight repo by purchasing Canadian government securities from primary dealers, with the agreement to resell these securities at the same counterparty the following business day. , the price difference corresponding to the interest of a working day. The BoC generally conducts repurchase transactions to influence the rate of money on a day-to-day basis.